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GTBank records N92billion profit before tax in nine months

By on October 24, 2015

Guaranty Trust Bank Plc yesterday announced gross earnings of N229.4 billion for the nine months endedSeptember 30, 2015, showing an increase of 15 per cent the N199.2 billion recorded in the corresponding period of 2014.

Profit before tax stood at N92.06billion, representing a growth of 14 per cent from N80.7billion recorded in the corresponding period of September 2014.The bank’s loan book grew  marginally by 0.47 per cent from N1.276trillion recorded in December 2014 to N1.281trillion in September 2015, while total assets and contingents of N3.002trillion and shareholders’ funds of N400.7billion.
GTBank’s non-performing loans remained low at 3.16 per cent, while return on equity (ROE) and return on assets (ROA) stood at 31.68 per cent and 5.10 per cent respectively.

The Managing Director/CEO of GTBank, Mr. SegunAgbaje, attributed the performance to the continued support of its customers, the commitment and hard work of its Staff, management and board, and the prioritization of strong corporate governance standards in the Bank’s systems and procedures.

Agbaje explained that the aggressive pursuit of our key objectives for the year, which are focused mainly on adding value to all stakeholders and improving customer experience were yielding positive dividends and reflecting heavily on the bank’s performance.

“Recognissing we operate in challenging business environments, we set high goals and benchmark ourselves against global standards which influence our service culture and product offerings, thereby enabling usto remain relevant to our customers while adding value to all stakeholders. We will continue to differentiate ourselves by providing innovative solutions that create sustainable value for all our customers and stakeholders while maintaining a high standard in service delivery byprioritising innovation, integrity and excellence,” he said.

According to him, as a bank, “we will continue to leverage technology and collaborations to improve service delivery quality, stakeholder interaction points and the overallGTBank customer experience.”

The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank operates from over 230 branches within the country and has banking subsidiaries in Kenya, Rwanda, Uganda, Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.

 

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